XRP suited for central bank

2022-01-11 区块链达人

In regions with a poorly developed infrastructure for banking services, fast and at the same time cheap remittances can ensure the survival of many people who often do not have sufficient access to a bank account. A new report by the World Economic Forum on “Central Bank Digital Currencies (CBDC)” describes that prominent digital currencies could be JPM Coin .

The XRP token is subject to the price fluctuations of the digital asset and acts as a bridge currency to transport a digital value from one end of the world to the other, almost in real time and at low cost. Whether the base currency is the USD or the Mexican Peso, XRP transfers the value transparently and quickly.

He further describes that the JPM Coin can only be used for USD to USD transactions, saving transaction fees and transfer time, but offering no other advantages compared to a classic bank transfer:If you’re just moving within the JPM ledger, and it has to be dollar-to-dollar, one-to-one backing, I don’t understand what problem that solves.

The joint development of new block-chain-based products could therefore have far-reaching effects on the banking landscape in the United States. Through the cooperation with ConsenSys, which has not yet been finally confirmed, JP Morgan could bring further blockchain expertise on board.

Author : Collin Brown